Updated Aug 27, 2025
Michael Hughes Of Marcus & Millichap Secures $8.7M Loan For Marshview Apartments Development In Sheboygan Falls
Plank Trail Lane
$8,700,000
Units
48
Asset Type
Development Site
Closing
Aug 26, 2025
About this deal
AI
The asset involved in this transaction is a development site located at Plank Trail Lane in Sheboygan Falls, WI. This property is earmarked for the construction of Marshview Apartments, a multifamily project consisting of 48 units, which will contribute to the housing availability in the area.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $8,700,000
- Loan Type: Construction
- Loan Term: 5 years
- Interest Rate: 6.2% fixed
- Interest-Only Period: 30 months
- Loan-to-Cost: 77%
- Market: Sheboygan Falls, WI
- Broker: Michael Hughes - Marcus & Millichap
The financing for this construction project was arranged by Marcus & Millichap Capital Corporation, with the loan secured by broker Michael Hughes, utilizing a regional lender to facilitate the transaction.
Sheboygan Falls Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.82%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93